Viavi Solutions Inc. (NASDAQ:VIAV) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Viavi Solutions Inc. has received an average rating of "Moderate Buy" from nine analysts, with six recommending buying the stock.
• The company recently reported a quarterly earnings per share of $0.13, exceeding estimates and marking a 15.3% increase in revenue compared to the previous year.
• Director Richard Belluzzo sold 8,385 shares at an average price of $10.02, reducing his ownership by 3.34% while still holding a significant stake in the company.

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) has earned an average rating of "Moderate Buy" from the nine analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $13.3111.

A number of brokerages recently weighed in on VIAV. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price target on shares of Viavi Solutions in a research report on Friday, May 2nd. UBS Group increased their target price on shares of Viavi Solutions from $11.00 to $12.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Susquehanna raised shares of Viavi Solutions from a "neutral" rating to a "positive" rating and set a $15.00 price target for the company in a report on Friday, August 8th. Wall Street Zen upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $13.50 target price on shares of Viavi Solutions in a report on Friday, June 20th.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $10.02, for a total value of $84,017.70. Following the sale, the director owned 242,311 shares of the company's stock, valued at $2,427,956.22. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.52% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Family Legacy Financial Solutions LLC bought a new position in shares of Viavi Solutions during the 2nd quarter worth approximately $43,000. USA Financial Formulas acquired a new position in Viavi Solutions during the first quarter worth $53,000. AlphaQuest LLC bought a new position in Viavi Solutions in the first quarter valued at $55,000. First Horizon Advisors Inc. grew its position in Viavi Solutions by 29.1% in the first quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock valued at $56,000 after purchasing an additional 1,138 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in Viavi Solutions by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock valued at $70,000 after buying an additional 6,171 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

Viavi Solutions Trading Down 0.2%

Shares of VIAV stock traded down $0.02 during trading hours on Wednesday, reaching $10.78. The company had a trading volume of 4,220,184 shares, compared to its average volume of 2,297,683. Viavi Solutions has a 1-year low of $7.80 and a 1-year high of $12.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.50 and a quick ratio of 1.30. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 67.38 and a beta of 0.87. The company has a 50 day moving average of $10.05 and a 200 day moving average of $10.37.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. Viavi Solutions had a return on equity of 8.02% and a net margin of 3.21%. The business had revenue of $290.50 million during the quarter, compared to the consensus estimate of $285.19 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The firm's revenue was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that Viavi Solutions will post 0.26 EPS for the current year.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.